re: Official CryptoTalk Thread

So are you advocating for PulseX? I Was thinking about buying a small amount.

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Cold storage will always be recommended

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IMO cold Storage is for stuff you done ever need to touch for years. everything else should go on hardware wallets.

First thing people need to learn, what is a wallet, and what is the seed phrase. People get confused and thing all these wallet applications are their actual wallets, When these are just applications to interact with their blockchain account. the seed phrase is just the password to their blockchain account.

hot wallet - an application on a device(phone,browser,etc.) that has your seed phrase saved in the dat file. This is the most convenient because you can open your phone and have access to your account..It also is the most insecure because a simple hack can copy your dat file which keeps your seed(password).

Cold wallet - a block chain account whose seed phrase is not on any electronic device. usually just written on a piece of paper in someones safe. This is the most secure because you have to have access to that piece of paper. BUT if you lose that piece of paper, you will never get access to that account again. There are many ways to save your seed phrase securely, the washer method, metal seed cards, etc.

Hardware wallet - These are the Ledgers, Trezors you hear about. A real hardware wallet will create you a seed phase that has never been exposed to the internet, and that seed phase is saved on the encrypted hardware device. (you should also save it on something secure like washers or seed cards encase you lose the hardware wallet or it breaks) These act as an actual key to access your block chain account. It is done through a shell wallet, just a throw away wallet you create you use to connect your hardware wallet. These shell wallets usually become your play account where you can trade small amounts of money, so saving its seed is recommended. But some people do create new shell wallets every time they access their hardware wallets.



That was a quick crash course.

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IMO cold Storage is for stuff you done ever need to touch for years. everything else should go on hardware wallets.

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I've always used the 2 terms interchangeably.

All cold storage wallets are hardware wallets but not all hardware wallets are cold storage wallets I guess. Trezor and Ledger can be cold storage if you aren't using them to access the likes of browser extension wallets.

This hack looks to be all on Slope. . Any seed phrase that originated from Slope wallets were moronically stored on Slope servers as plaintext.

Wasn’t someone on here very passionate about ALGO? Have done a few deep dives on them and the fifa partnership might be a nice catalyst in a few months. If anyone thinks that will get legs now might be the time, considering loading up here.

I know r/cryptocurrency is bullish on Algo


I was bullish during alt-L1 season because Algo launched developer grant incentives and liquidity incentives.


It is probably still a good buy in the bear, the worst of their bad tokenomics have passed.

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Blackrock partners with $coin

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RIP Crypto, RIP

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That was a quick crash course.

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Thanks for that. Very helpful.

Would you mind delving into crypto bridges a little bit? I’ve been reading about some that have vulnerabilities when doing swaps, so I wanted to understand better how the more experienced players safeguard themselves when doing swaps.

Which ones do you use and which do you stay away from, and why? What do you look for as red flags?

TIA

PoS Merge date now set for September 15th, give or take on exact timing of the specific block.